Bitstamp, a Luxemburg-based bitcoin exchange, offers United States Dollar (USD), Euro (EUR), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP) and Bitcoin Cash (BCH) deposits and withdrawals. Bitstamp is also considered to be one of the biggest cryptocurrency exchanges and recently the platform added a feature to instantly fund accounts with the USD through Ripple. This was made possible by the launch of an on-demand Ripple liquidity corridor.
A month ago Ripple, a blockchain-based platform that improves global payments, reached 300 customers making 2019 the most successful year for the company. More than twenty businesses are currently working through the On-Demand Liquidity(ODL) by Ripple for international payments.
The Chief Executive Officer of FlashFX, a company that uses Ripple’s technology, said that being among the first adopters of the technology, they have noticed the advantages that it provides and see that it has the potential to be used for more than global payments.
Ripple recently invested 50 million USD in MoneyGram, a US-based company that works on international financial transactions, and released new payment corridors throughout Europe and Australia. One of the conditions of the deal was to use Ripple’s currency, XRP, as a bridge in order to increase the adoption of the crypto coin.
The number of XRP transactions reached an all-time high on November 23, for the first time the number exceeded 4 million.
It was recently announced by FlashFX that the crypto exchange, Bitstamp, is now using the Ripple system instead of SWIFT making international transactions faster, cheaper and easier. The Chief Executive Officer of Ripple also commented that Ripple is a much better alternative for SWIFT.
Even though Ripple’s cryptocurrency has a volatile price it is much more efficient for international trading.